Email Update

By Intelligent Investor · 9 Jun 2000

By Intelligent Investor ·
9 Jun 2000

Recommendation

Melbana Energy Limited - MAY

Current price

$0.06 at 16:40 (19 April 2024)

Price at review

$3.79 at (09 June 2000)

All Prices are in AUD ($)

The dreaded 'profit warning' was the subject of an announcement from Mayne Nickless last week. The company expects that its 1999/2000 earnings may be below the expectation of many - it is predicting an $80-85m figure as against last year's $110.5m. While Mayne Nickless stock has dropped below the level of our recommendation in issue 55 (Accumulate - $3.80), we think now that the stock is back near 12 year lows it remains an ACCUMULATE for those that appreciate this situation and are prepared to be patient. With some luck, the company will move into the sights of an acquirer, but failing this any turnaround could take a while.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

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